Speaker 1: Live from the Bloomberg into Raptor Brooker Studios. This is
Speaker 1: Bloomberg Daybreak for Friday, March four. Coming up this hour,
Speaker 1: Russian forces occupy Europe's largest nuclear power plant. Stocks drop
Speaker 1: as the war in Ukraine escalates. Commodities wrap up a
Speaker 1: historic week as oil and metals soar, and investors look
Speaker 1: ahead to the February jobs for fort New York City
Speaker 1: Mayor Adams could announce today e's and COVID restrictions lost
Speaker 1: the blowbat from Moscow's invasion in Ukraine hits Russian connected
Speaker 1: gas stations in Newark On Michael blar More ahem, I'm
Speaker 1: John Stashnower and sports Kevin Durant returned to the next lineup.
Speaker 1: They still lost to the heat in Brooklyn. The Islanders
Speaker 1: lost the Vancouver That's All Straight Ahead on Bloomberg Daybreak
Speaker 1: on Bloomberg Elemen Trio, New York, Bloomberg one, Washington, d C,
Speaker 1: Bloomberg one, O six one, Boston, Bloomberg nine six, San Francisco,
Speaker 1: Sirius x M one nineteen and around the world Old
Speaker 1: on Bloomberg Radio dot Com and via the Bloombird Business
Speaker 1: and Good Friday Morning, I'm Nathan Hagar and I'm Karen Moscow.
Speaker 1: US futures are following as we're risk intensify. It's coming
Speaker 1: up to five oh one on Wall Street, and we
Speaker 1: checked the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg, SNP futures down thirty eight points this morning.
Speaker 1: Down futures down two eighty three and nasday futures down
Speaker 1: one four. The ten year treasury up seventeen thirty seconds.
Speaker 1: He had one point seven eight percent in a yield
Speaker 1: on the two year one point four eight percent. NIMEX
Speaker 1: screwed oil is I've wanted a third percent up a
Speaker 1: dollar forty one and a hundred nine dollars seven cents
Speaker 1: of barrel. Nathan, all right, Karen, we'll get back to
Speaker 1: markets in a minute. But the stakes have been raised
Speaker 1: even higher now. In Russia's war with Ukraine, Russian forces
Speaker 1: are now occupying Europe's largest nuclear plant after shelling at
Speaker 1: the facility overnight sparked the fire. Ukrainian President Vladimir Zelinski
Speaker 1: says Europe needs to wake up. If there's an explosion,
Speaker 1: that's the end for every one, the end for Europe,
Speaker 1: the evacuation of Europe. Only urgent action by Europe can
Speaker 1: stop the Russian troops. Do not allow the death of
Speaker 1: Europe from a catastrophe at a nuclear power station. President
Speaker 1: Zelinsky is appealing to Russian President Vladimir Putin to meet
Speaker 1: with him. Is the only way to stop the war.
Speaker 1: Secretary of State Anthony Blincoln says, the world stands ready
Speaker 1: to assist Ukraine. We seek no conflict, but if completly
Speaker 1: comes to us, we're ready for it and we will
Speaker 1: defend every inch of NATO territory. Secretary Blincoln is meeting
Speaker 1: today with NATO ministers in Brussels. The White House says
Speaker 1: President Biden is being briefed on the situation, but right
Speaker 1: now the US is not detecting elevated radiation levels at
Speaker 1: the nuclear site. Meanwhile, the rush to fille Ukraine. Nathan
Speaker 1: has for some very tough decisions for more than a
Speaker 1: million people on Bloomberg's and Baxter has more over a
Speaker 1: million people with a forecast of possibly four million more refugees.
Speaker 1: And El Shaker, the international Deputy Director of Refugee International,
Speaker 1: tells Bloomberg families are being split up. Sometimes if it's
Speaker 1: just a father puts those child on a bus, and
Speaker 1: here rise in pulland the father may stay to help.
Speaker 1: So unaccompanied children are arriving in dainty extra protections, and
Speaker 1: some of these are only on fourteen day temporary visas.
Speaker 1: In San Francisco. I'm at Baxter Bloomberg daybreak, All right, ed,
Speaker 1: thank you. As the US and allies choke off investor
Speaker 1: demand for Russian assets, parts of Wall Street are jumping
Speaker 1: on the buying opportunity. Sources say Goldman Sachs and JP
Speaker 1: Morgan Chase have been purchasing beaten down company bonds tied
Speaker 1: to Russia in recent days. The Russian stock market remains closed, Nathan,
Speaker 1: while stocks and you're a plunge over the latest development
Speaker 1: in Ukraine. Let's go live to London and get the
Speaker 1: latest to live with the Bloomberg's un parts. You and
Speaker 1: good morning, Karen, Nathan. It's the longest ever shotdown of
Speaker 1: the Moscow Stock Exchange as the Kremlin continues to attempt
Speaker 1: to stave off the impacts of global sanctions for domestic investors.
Speaker 1: The exchanges confirmed it will remain closed until at least
Speaker 1: Wednesday of next week. Since the Moscow market was lost
Speaker 1: opened a week ago. Russian stocks listed in London. Have
Speaker 1: lost more than a percent of their value before getting suspended.
Speaker 1: Stocks opened lower across Europe this morning on news of
Speaker 1: that overnight Ukrainian nuclear power plant fire, and they've continued
Speaker 1: to set off your stocks A hundred trading down some
Speaker 1: three percent, on course for its worst week since March
Speaker 1: twenty Live in London, I'm you and pot Springbok daybreak,
Speaker 1: all right you and thank you. We also saw losses
Speaker 1: in Asia overnight. Let's get the recap on that from Bloombridge.
Speaker 1: Juliette Sally in Singapore. Good morning, Juliet, Good morning, Nathan
Speaker 1: and Karen. The ms CI Asia Pacific Index fell to
Speaker 1: a fresh sixteen month lower, weighed down by losses in
Speaker 1: Japan and Hong Kong, then negate to to five paired
Speaker 1: earlier losses of as much as three percent. It closed
Speaker 1: lower by two point two percent in Tokyo, and Chinese
Speaker 1: tech players were dumped, with an index of TEX shares
Speaker 1: listed in Hong Kong falling to its lowest since inception,
Speaker 1: and the h Shares index is trading near a six
Speaker 1: year loan. Over the course of the week, the ms
Speaker 1: CI Asia Pacific Index fell by as much as one
Speaker 1: point eight percent, it's third weekly loss in Singapore. Juliet
Speaker 1: Sally Bloomberg daybreak. All right, Juliette, thank you. Commodities are
Speaker 1: wrapping up historic week as Russia's invasion of Ukraine royals markets.
Speaker 1: We get the latest lie from Bloomberg's Renita Young. Good morning,
Speaker 1: ready now, good morning care and soaring commodities prices from
Speaker 1: crude to aluminium and wheat are adding to hot inflationary
Speaker 1: pressures that's hurting consumers and fueling concerns over an economic slowdown.
Speaker 1: And as a result of Bloomberg, Commodity Spot index has
Speaker 1: rallied more than nine percent this week. Oil is headed
Speaker 1: for its biggest weekly surgeon almost two years. Brent crude,
Speaker 1: which almost hit a hundred twenty dollars yesterday, is trading
Speaker 1: at just over a hundred eleven dollars of barrel right now.
Speaker 1: Prices for wheat, aluminum, nickel, and crude are all expected
Speaker 1: to continue rising, and this all comes as many raw
Speaker 1: materials are facing low stockpiles. Live in New York. I'm
Speaker 1: Mornita Young, Bloomberg daybreak, All right, Rinita. Thanks Despite the surgeon,
Speaker 1: oil prices and the Russian invasion of Ukraine, Fed chair
Speaker 1: j Palace, sticking to plans to raise rates beginning later
Speaker 1: this month. I would be recommending and supporting a one
Speaker 1: quarter of one percent interest increase at our March meeting.
Speaker 1: If we don't see inflation behaving as we expected to
Speaker 1: be a which is to peak and begin to come down.
Speaker 1: If we see inflation behaving in ways not consistent with that,
Speaker 1: then we're prepared to raise my more than that amount
Speaker 1: in a meeting or meetings. FED Chair J. Powell reiterated
Speaker 1: the right hike plan during two days of congressional testimony
Speaker 1: and Nathan The next major economic data point comes later
Speaker 1: this morning with the release of the February JOMP support
Speaker 1: We get a preview from Bloomberg's Muccle McKee. The consensus
Speaker 1: is that as the oh maicron COVID variant faded in February,
Speaker 1: hiring probably picked up and was forecast another large gain
Speaker 1: in jobs restored and a drop in the unemployment rate
Speaker 1: back below four percent. Although the Russian War will cap
Speaker 1: the impact of this employment report, Federal Reserve officials will
Speaker 1: be interested in the strength of hourly earnings as they
Speaker 1: watch for signs high inflation may be becoming embedded in
Speaker 1: the economy. The FED is also interested in the labor
Speaker 1: force participation rate, how many people are out looking for
Speaker 1: a job this week. Chairman J Powell told Congress policymakers
Speaker 1: don't know why so many people are staying home, but
Speaker 1: he expressed hope that hiring will pick up as COVID eases.
Speaker 1: Michael McKee, Bloomberg Daybreak. All right, Mike, thanks SMP. Futures
Speaker 1: down down thirty two points down, futures down, tune forty six,
Speaker 1: and nastac features lower by a hundred two points. Straight
Speaker 1: ahead your latest local headlines into check of sports. This
Speaker 1: is Bloomberg. It's five oh seven on Wall Street where
Speaker 1: twenty one degrees in central parking of vehicle fires slowing
Speaker 1: down the northbound FDR drive through the seventies. Details coming
Speaker 1: up in traffic. First. Michael bars here with more on
Speaker 1: what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. This could be a
Speaker 1: big day in New York City's progress against COVID. Nineteen
Speaker 1: Mayor Eric Adams could announce as soon as today to
Speaker 1: lift mask mandates and schools and vaccination requirements and restaurants,
Speaker 1: bars and theaters, while infections, hospitalizations, and deaths continue. The
Speaker 1: move by Adams could signal the turning point in the
Speaker 1: pandemic to a return to normalcy me. While New York
Speaker 1: City Health Department says COVID hospitalizations saw the biggest racial
Speaker 1: gap during O Macron. Black New Yorkers were hospitalized at
Speaker 1: two times the rate of White New Yorkers during the
Speaker 1: winter O Macron surge. Gas prices have shot up across
Speaker 1: the country do in large part to the Russian invasion
Speaker 1: of Ukraine. It's causing a sharp rise in oil prices.
Speaker 1: In North Carolina, the price for a gallon of regular
Speaker 1: and an Exon gas station in Raleigh get close to
Speaker 1: four dollars twenty cents. This Roley mom says, even our
Speaker 1: teenagers are fueling the pinch. I have kids that just
Speaker 1: started driving. I know that their love and the experience,
Speaker 1: but even they are completely overwhelmed by the ends of
Speaker 1: their paycheck. You know, how do I get back and
Speaker 1: forth to work? Los Angeles is now averaging more than
Speaker 1: five dollars. Outraged by the invasion of Ukraine, lawmakers in
Speaker 1: New Jersey's largest city took aim at the Russian franchise
Speaker 1: Luke Oil Gas stations. The New York City Council voted
Speaker 1: unanimously to suspend the service stations operating licenses, citing Luke
Speaker 1: Oil's base in Moscow. However, the stations are franchises owned
Speaker 1: by locals, not Russians, and they employ mostly New Jersey residents.
Speaker 1: President Joe Biden signed bipartisan legislation that prohibits the use
Speaker 1: of forced arbitration and sexual assault and harassment claims in
Speaker 1: the workplace. President Biden says the Forest Arbitration of Sexual
Speaker 1: Assault and Sexual Harassment Act ends a secretive practice that
Speaker 1: is often used to shield perpetrators from full and public accountability.
Speaker 1: There will be cases where victims want their claims resolved
Speaker 1: in private, but some survivors will want their day in court,
Speaker 1: and that should be their choice and nobody else's church.
Speaker 1: President Biden says the new law profoundly changes the way
Speaker 1: businesses handle sexual abuse allegations. Global Needs twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty seven undred journalists and analysts, more than
Speaker 1: twenty trees. I'm Michael Barr. This is Bloomberg. Nathan all right, Michael,
Speaker 1: thank you. Coming up to five ten on Wall Street.
Speaker 1: Time for the Bloomberg Sports Updake, Good morning, John Stenshlon Morney,
Speaker 1: Nathan Welcome back. Kevin Durant, first game for the Nets
Speaker 1: after missing twenty one with a knee injury. Samuel k
Speaker 1: d thirty one points in thirty five minutes, but the
Speaker 1: Nets lost at Barkley's to the East in Miami Heat
Speaker 1: one thirteen one oh seven. The Heat. We're coming off
Speaker 1: a blown lead at a one point lost the night
Speaker 1: before Milwaukee, so they gave three starters the night off,
Speaker 1: but Bambata Bio played. He scored thirty in. The Nets
Speaker 1: have now lost sixteen of their last nineteen to dropped
Speaker 1: down to five hundred. Doesn't get any easier A game
Speaker 1: Sunday in Boston Celtics last night being Memphis, they've won
Speaker 1: thirteen of fifteen. The Knicks like the Nets, losers of
Speaker 1: sixteen the last nineteen, and tough about not getting any easier.
Speaker 1: Knicks Tonight in Phoenix, the Suns are fifty and twelve,
Speaker 1: best record in the NBA U B s Areena Islanders
Speaker 1: at a third period lead Vancouver two goals forty five
Speaker 1: through the part. Midway through the third, the Canucks won
Speaker 1: four to three, so they went two and one on
Speaker 1: their tour of the three New York area teams. The
Speaker 1: Isles of Now Lost Peak for the last eleven College
Speaker 1: Oake Verre loss for Iona in Riverdale Manhattan Sport for
Speaker 1: the second left one by two. Iona has dominated the
Speaker 1: MAC but means to win the upcoming proference turnament to
Speaker 1: gain entry to the n C Double A. It's the
Speaker 1: big college basketball story is the game tomorrow North Carolina
Speaker 1: at Duke, the final home game for Duke's legendary coach,
Speaker 1: Mike Just. Yes, I've tried never to look in the
Speaker 1: past too much or in the future, but you know
Speaker 1: a little bit of thinking yesterday your last game in
Speaker 1: camera right, it's Crazy's coach to Duke for forty two years.
Speaker 1: John Stash Award Bloomberg Sports. Thanks John SMP. Future is
Speaker 1: down to down thirty two points. Staff futures down two
Speaker 1: sixty one, nest Act futures on the decline by a
Speaker 1: hundred two points. Continued, Treasury now up seventeen thirty seconds.
Speaker 1: You at one point seven. You're listening to Bloomberg day
Speaker 1: Break Blomber eleven three oh weather, sunshine, upper thirties today
Speaker 1: will be in the upper forties, turning cloudy tomorrow, scattered showers,
Speaker 1: breezy and mild for Sunday, with a high near sixty
Speaker 1: five degrees. Right now, it's twenty one in Central Park markets.
Speaker 1: Headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot com, The Bloomberg Business at and at Bloomberg
Speaker 1: Quicktape is a Bloomberg Business clash, and I'm Karen Monstown.
Speaker 1: US Dock Index futures are lower as war risks intensify
Speaker 1: after a Ukrainian nuclear power plant briefly caught fire. We
Speaker 1: checked the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg S and P Future is down thirty four
Speaker 1: points down Future is down two sixty three and nowsdays
Speaker 1: futures down at nine seven. The decks in Germany is
Speaker 1: down three and a quarter percent, and your treasury of
Speaker 1: sixteen thirty seconds, he had one point seven eight percent.
Speaker 1: The yield on the two year one point four nine percent.
Speaker 1: Nimex S crude oil is up one point nine percent
Speaker 1: of two dollars twenty five cents at a hundred nine
Speaker 1: dollars two cents of barrel. Comic School is up six
Speaker 1: tents per cent or eleven dollars fifty cents at nineteen
Speaker 1: forty seven forty announced, the euro one point one zero
Speaker 1: one three against the dollar, British found one point three
Speaker 1: three oh five the yen at one fifteen point four
Speaker 1: three Bitcoin this morning moving lower down more than one
Speaker 1: percent at forty one thousand, six hundred forty dollars. And
Speaker 1: we are today watching for the February jobs report at
Speaker 1: an eight thirty Wall Street time. That's a Bloomberg business flash.
Speaker 1: Now here's Michael bar with more on what's going on
Speaker 1: around the world. Munchale, Good morning, Good morning, Karen. More
Speaker 1: On that fire you mentioned, Ukrainian authorities say a fire
Speaker 1: at Europe's biggest nuclear planned ignited by Russian shelling, has
Speaker 1: been extinguished in that Russian forces have taken control of
Speaker 1: the site. Ukraine's state nuclear regulators says no changes in
Speaker 1: radiation levels have been recorded so far. Donald Trump Junior's
Speaker 1: fiance has been subpoena to testify before the House January
Speaker 1: sixth Committee. The subpoenas says Kimberly Gilfoyle met with Donald
Speaker 1: Trump at the White House, spoke at the rally before
Speaker 1: the January sixth Riot and helped organize and raise money
Speaker 1: for the event. In the NBA, the Nets and Warriors lost,
Speaker 1: the Celtics won. In the NHL, the Islanders lost, the
Speaker 1: Bruins and Capitals won. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Take, powered by
Speaker 1: more than twenty seven under journalists and analysts more than
Speaker 1: a twenty countries. Michael mar This is Bloomberg, Nathan, Michael. Thanks,
Speaker 1: It's five nineteen on Wall Street Live from the Bloomberg
Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak and Bloomberg News.
Speaker 1: Executive Editor for International Government. Rosalind Matheson is back with
Speaker 1: us this morning on the latest developments in Ukraine, not
Speaker 1: the least of which, of course, is Russian forces now
Speaker 1: occupying the largest nuclear power plant in Europe after bringing
Speaker 1: it under pretty heavy fire overnight. Rosalind, what's the latest.
Speaker 1: The latest is that there was a brief fire at
Speaker 1: a training center in the vicinity of this plant overnight,
Speaker 1: after what Ukraine and the i a e A says,
Speaker 1: with shelling by Russian forces. That fire, thankfully has been extinguished.
Speaker 1: There's no sign of any radiation damage or leak and
Speaker 1: no injuries in that. But certainly when you have this
Speaker 1: kind of shelling occurring in such proximity to nuclear power assets,
Speaker 1: it has to raise concern and you can see that
Speaker 1: in the comments from European officials and others this morning.
Speaker 1: You can see in the comments from the US President overnight,
Speaker 1: just the concern about where this conflict is going and
Speaker 1: just how much risk is coming in that something happens
Speaker 1: that takes this conflict well outside Ukraine's own borders. Yeah,
Speaker 1: we heard the alarm from the Foreign Minister of Ukraine,
Speaker 1: Dmitri Kuebo, saying that a explosion at this particular plant
Speaker 1: would be ten times larger than Chernobyl, and of course
Speaker 1: we saw the active around the Chernobyl plant as well.
Speaker 1: What could this say about this phase of the war, now,
Speaker 1: what Russia could be planning. Well, certainly it suggests that
Speaker 1: at least, at the very least, there's indiscriminate shelling going on.
Speaker 1: In a conflict, you do get these kind of incidents
Speaker 1: where stuff happens that perhaps is unintended, But similarly, they
Speaker 1: do know what this area contains, which is this enormous
Speaker 1: nuclear power plant, and their efforts to take control of it.
Speaker 1: It's possible that the shelling occurred in a way. It
Speaker 1: suggests again the desperate efforts by Russian troops to make
Speaker 1: up some ground here after being bogged down at least
Speaker 1: in the northern part of the country for days, and
Speaker 1: the tactics that they're resorting to to do so. It
Speaker 1: just fits the pattern of a real heightening of the
Speaker 1: aerial bombardment that's been going on on key cit s
Speaker 1: across the country now for a couple of days. A
Speaker 1: number of Ukrainian officials, including the Energy Minister of Ukraine
Speaker 1: who spoke to Bloomberg Television overnight or reiterating their calls
Speaker 1: for a no fly zone to be set up. Is
Speaker 1: that something that's on the table for the US and NATO,
Speaker 1: the idea of a no fly zone, Uh not at
Speaker 1: this stage. No NATO ministers meeting in Brussels to have
Speaker 1: made it very clear that that's not something that they
Speaker 1: could entertain, despite those pleas from the Ukrainian government, including
Speaker 1: the president. That's because what happens in a no fly
Speaker 1: zone trying to police that airspace is you would have
Speaker 1: NATO aircraft confronting Russian aircraft to try and keep them
Speaker 1: out of that area, and that means you have a
Speaker 1: scenario where NATO planes are firing on Russian aircraft, and
Speaker 1: that means the conflict has gone from being Russia and
Speaker 1: Ukraine and being Russia and Europe as a whole, including NATO,
Speaker 1: including the US, and that's not something that they say
Speaker 1: that they can entertain at this point in time. Also,
Speaker 1: the Russian aircraft capacity inside Ukraine is pretty intense at
Speaker 1: the moment, so actually a wait, it's questions whether they
Speaker 1: could even enforce it if they wanted to because of
Speaker 1: the superiority of the Russian air force in that area.
Speaker 1: But right now, very clear messaging from NATO that this
Speaker 1: is not something that they can do. Well, what are
Speaker 1: we expecting to come out on the diplomatic front? You
Speaker 1: mentioned NATO ministers meeting Secretary of State Antony Blinken as well.
Speaker 1: Is in Brussels. We had those second rounds of talks
Speaker 1: yesterday between Ukrainian and Russian diplomats. What if anything is
Speaker 1: coming out of all this? Very little at this point
Speaker 1: from the diplomatic side. At least, there were that second
Speaker 1: round of talks between officials from Russia and Ukraine yesterday.
Speaker 1: They said there was some progress and quote marks towards
Speaker 1: agreeing a potential humanitarian corridor for Ukrainians to leave the country,
Speaker 1: but nothing tangible, no promise, and certainly no details yet
Speaker 1: on whether another when the next round of talks on
Speaker 1: that might even happen. The diplomatic front is really focused
Speaker 1: around condemnation at this point. The hard stuff is coming
Speaker 1: from the sanctions and penalties aimed at the Russian economy
Speaker 1: and its senior leaders, and there's more expected on that
Speaker 1: front in the next couple of days. Our last thirty
Speaker 1: seconds here we're seeing any signs of off ramps for
Speaker 1: Russia coming out of the sanctions that have been imposed
Speaker 1: so far, not at this stage, and in fact some
Speaker 1: of these sanctions won't even take effect for weeks or
Speaker 1: months on certain parts of the economy, and so the
Speaker 1: effect of it won't be felt yet, despite the the
Speaker 1: uneas and the panty you can see on the ground
Speaker 1: amongst ordinary consumers in Russia. So the pressure point from
Speaker 1: that is yet to come, and that might give the
Speaker 1: Russian presidents and breathing space. Thanks as always and for
Speaker 1: the help throughout this very difficult week. Roslyn Mathis and
Speaker 1: our executive editor for International Government for Bloomberg News, keeping
Speaker 1: us on top of what's happening in the war in
Speaker 1: Ukraine now into a ninth day, and near Russian forces
Speaker 1: now occupying the largest nuclear power plant in Europe in
Speaker 1: southeastern Ukraine. Right now, SMP futures are down twenty six
Speaker 1: points down. Futures are down two under ten NANASAC futures
Speaker 1: are lower by seventy points up Ahead, commodities wrap up
Speaker 1: an extremely vaulted a week, and we look ahead to
Speaker 1: February jobs. As we check your top stories of the morning.
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather
Speaker 1: mostly sunny, upper thirties today, It'll turn cloudy to start
Speaker 1: the weekend. Tomorrow's high in the upper forties will have
Speaker 1: scattered showers, a breeze, and a high in the mid
Speaker 1: sixties by Sunday. Right now one in Central Park, broadcasting
Speaker 1: live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg e Living Freedom to Washington, d C, Bloomberg on
Speaker 1: to Boston, Bloomberg one oh six one to San Francisco,
Speaker 1: Bloomberg sixty to the Country, Sirius XM chand one and
Speaker 1: around the Globe, the Bloomberg Business and Bloomberg Radio dot Com.
Speaker 1: This is Bloomberg Daybreak. It's five thirty on Wall Street.
Speaker 1: Good morning. I'm Nathan Hagar and I'm Karen Moscow. We're
Speaker 1: just about four hours away from the open of US trading.
Speaker 1: Let's get you have to date in the news. You
Speaker 1: need to know at this hour. Russia is now occupying
Speaker 1: the largest nuclear signed in Europe. Overnight, Shelling started a
Speaker 1: fire at this up areas a nuclear plant. Ukrainian Energy
Speaker 1: Minister Herman Halashenko tells us this raises the stakes in
Speaker 1: the war. One example of the brigia could be repeated
Speaker 1: in in Uh, in the other stations, on the other units.
Speaker 1: And and that's why we ask for clothing the sky.
Speaker 1: We we don't see any other possibilities. Herman Helloshenko spoke
Speaker 1: on Bloomberg Television. The US Energy Department says it's activated
Speaker 1: it's nuclear Incident Response team, but right now it doesn't
Speaker 1: see elevated radiation levels. The US futures and stocks overseas
Speaker 1: Karen are falling as the war escalates. SMP futures are
Speaker 1: down about a half percent right now. Major European averages
Speaker 1: and stocks in Asia are down between two and three percent,
Speaker 1: and commodities are wrapping up historic week Nathan as Russia's
Speaker 1: invasion of Ukraine royals markets. Let's get the latest line
Speaker 1: from Bloomberg's or need a Young, Good morning, Ready, good morning, Karen's.
Speaker 1: Soaring commodities prices from crude to aluminum and wheat are
Speaker 1: adding to hot inflationary pressures. That's hurting consumers and fueling
Speaker 1: concerns over an economic slowdown. Oil is heading for its
Speaker 1: biggest weekly surgeon almost two years. Brent crude which is
Speaker 1: almost it almost hit a hundred twenty dollars yesterday. It's
Speaker 1: trading right now at just over a hundred twelve dollars
Speaker 1: of barrel. Prices for wheat, aluminum, nickel, and crude are
Speaker 1: all expected to continue rising. And it all comes as
Speaker 1: many raw materials are facing low stockpiles. Live in New York.
Speaker 1: I'm Renita Young, Bloomberg daybreak, All right, we need to thanks.
Speaker 1: Investors are also bracing for the February jobs report. We
Speaker 1: get a preview from Bloomberg's Viney del Junie. US payable
Speaker 1: growth probably top four hundred thousand in February. That would
Speaker 1: follow a solid January day and a four hundred sixty
Speaker 1: seven thousand. Bloomberg Economics is workers have been sentive to
Speaker 1: return after the pandemic, citing rising wages as well as
Speaker 1: the end of emergency assistance. Labor shortages percessed, and the
Speaker 1: number of workers collecting unemployment funefits is at a half
Speaker 1: century low. Finny del Judae Spoomberg Daybreak, Hey Vinny, thank you.
Speaker 1: Turning to stunks on the move. Shares of Smith and
Speaker 1: Weston down almost twenty percent this morning. The gunmaker's third
Speaker 1: quarters sales of missed estimates and gap is up more
Speaker 1: than seven percent. The retailer gave an optimistic projection for
Speaker 1: the current year. Futures are lower this morning. SMP futures
Speaker 1: down twenty five points down, futures down two hundred six
Speaker 1: NASDAG futures down sixty three. Straight ahead your latest local
Speaker 1: headlines plus a check of sports, and this is Bloomberge
Speaker 1: on Wall Street twenty one degrees in Central Park, still
Speaker 1: dealing with a car fire and FDR drive at North
Speaker 1: Found at seventy one Street. Michael Barr is here with
Speaker 1: more on what's going on in New York and around
Speaker 1: the world. Michael Nathan, thank you, sir. An important milestone
Speaker 1: in New York City's progress against COVID nineteen could soon
Speaker 1: arrive when Mayor Eric Adams lifts mask mandates and schools
Speaker 1: and vaccination requirements in restaurants, bars, and theaters. The Mayor
Speaker 1: says the decision could come as soon as today, a
Speaker 1: long awaited development of a city that was once the
Speaker 1: epicenter of a deadly pandemic. While infections, hospitalizations, and deaths continue,
Speaker 1: the move by atoms could signal a turning point in
Speaker 1: the pandemic by firmly shifting the focus on recovery and
Speaker 1: a return to normalcy. Outraged by the invasion of Ukraine,
Speaker 1: lawmakers in New Jersey's largest city lashed out at symbols
Speaker 1: of Russia in their city, a pair of Luke Oil
Speaker 1: gas stations. The Newark City Council voted unanimously to suspend
Speaker 1: the service stations operating licenses, citing Louke Oil's base in Moscow. However,
Speaker 1: the stations are franchises owned by locals, not Russians, and
Speaker 1: they employ mostly New Jersey residents. President Byiten has signed
Speaker 1: a law preventing companies from forcing sexual assault or harassment
Speaker 1: victims into secret arbitration and settlements. Between half and three
Speaker 1: quarters Wall women reports that they have faced some form
Speaker 1: of sexual harassment workplace and too often to denied a
Speaker 1: voice from the fair chance to do anything about. Vice
Speaker 1: President Kamala Harris also made the announcement with the President
Speaker 1: for st arbitration silences survivors a sexual assault and harassment.
Speaker 1: It's shields predators instead of holding them accountable, and gives
Speaker 1: corporations a powerful tool to hide abuse and misconduct. Harris
Speaker 1: and President Biden praised both parties for ending the right
Speaker 1: for companies to require workers to sign agreements that force
Speaker 1: and out of court sexual harassment supplement. Governor Phil Murphy
Speaker 1: is including property tax relief checks in the annual spending
Speaker 1: plan he will introduce next week with an average seven
Speaker 1: hundred dollars plan for New Jersey homeowners making as much
Speaker 1: as two hundred fifty dollars a year. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than hundred journalists and analysts more than
Speaker 1: a hundred twenty countries. Michael bar this is Bloomberg, ain't it?
Speaker 1: Thanks Michael on Wall Street time for the Bloomberg Sports Update.
Speaker 1: With John stands all right, Nathan Nixon. Nets have the
Speaker 1: exact same record over the last nineteen games, and it's
Speaker 1: not good. Three and sixteen Nets for the most part
Speaker 1: because of the Kevin Duran injury. He returned last night
Speaker 1: at Quarkley is his first game in forty seven days.
Speaker 1: Nets still lost to Miami one one oh seven k
Speaker 1: d s thirty one point. I feel gray, I'm only
Speaker 1: gonna get better, more comfortable out there, um, you know,
Speaker 1: take more of the load out there to posts when
Speaker 1: I get um, when I get you know, more games
Speaker 1: on them my boat so um Nets visit Boston Sunday
Speaker 1: and under the lost drops them under five hundred. Nicks
Speaker 1: are in Phoenix tonight. Suns are fifty and twelve. That's
Speaker 1: twenty three games ahead of the Lakers have just got
Speaker 1: blown out by the Clippers. Dallas Beats slumping Golden Spain
Speaker 1: look at Johnson forty one points near triple double. Warders
Speaker 1: have lost five the last six. The Islanders have lost
Speaker 1: eight of eleven, meeting at home by Vancouver four to three.
Speaker 1: College troops. Manhattan upset Iona Duke Coast North Carolina tomorrow.
Speaker 1: Over forty two years, Mike Schefski has coast over two
Speaker 1: hundred players. They have all been invited back for coach
Speaker 1: K's final home team. The NFL says no more COVID
Speaker 1: protocols for we like twenty nineteen, starting with off season activities.
Speaker 1: France has eased its vaccine rules that may allow Novak
Speaker 1: Djokovis to play the French Open Glory. McElroy enjoys playing
Speaker 1: bay Hill. He's finished the top ten five straight years.
Speaker 1: In opening round seven under par sixty five, McElroy has
Speaker 1: a two shots Bloomberg Sports NAT thanks Sjohn. It's thirty
Speaker 1: seven on Wall Street time for the Tri State Business Report.
Speaker 1: Here's Bloomberg said. Corey Amazon dot Com workers at his
Speaker 1: second facility in New York have won approval for a
Speaker 1: union election. The Amazon labor unions gathered enough signatures from
Speaker 1: workers at the l d J five warehouse in Staten
Speaker 1: Island to proceed with a vote. According to a National
Speaker 1: Labor Relations Boards spokesperson, workers at the Manhattan location of
Speaker 1: Outdoor Sporting Goods chain are EI voted to joining union
Speaker 1: first for that company, buying eight six percent majority. Employees
Speaker 1: voted to join the retail wholesale and department store union.
Speaker 1: The r EI union follows employees at a handful of
Speaker 1: stores owned by Starbucks. Governor Phil Murphy is including property
Speaker 1: tax relief checks and the annual spending plan he'll introduce
Speaker 1: next week, with an average of seven hundred bucks planned
Speaker 1: for New Jersey homeowners making up to two hundred fifty
Speaker 1: thousand dollars. Renters would get about two hundred and fifty bucks.
Speaker 1: Murphy's proposal would apply to one point eight million residents.
Speaker 1: That your Bloomberg Try State Business Report. I'm d Corey.
Speaker 1: Thanks that it's five thirty eight on Wall Street. Bloomberg
Speaker 1: Radio is on the air from San Francisco to New York,
Speaker 1: London to Hong Kong. Let's check in with our global
Speaker 1: news team for some of the top stories heard on
Speaker 1: our three hundred affiliate radio stations around the world. I'm
Speaker 1: John Tucker for Sensen Wins in New York recording parts
Speaker 1: of Wall Street are still buying Russian assets. I'm Cornets
Speaker 1: on a hole on t g R H in Houston.
Speaker 1: Workers are getting paid time off even before starting a
Speaker 1: new job. I'm Caroline head Killed bloom B A D
Speaker 1: A B Disital Radio in London after and ask no
Speaker 1: questions property market UK finally moves to improve ownership disclosure
Speaker 1: with the reality of a Russian war. I made cory
Speaker 1: on w w J in Detroit. I'm reporting automaker shares
Speaker 1: fell Thursday on worries about supply chains and Ukraine. And
Speaker 1: those are some of the stories our hundred Bloomberg journalists
Speaker 1: and analysts are working on this morning around the world.
Speaker 1: It's just before thirty nine on Wall Street. The following
Speaker 1: is an editorial from Bloomberg Opinion. This editorial was written
Speaker 1: by the Bloomberg Editorial Board. American lawmakers aren't tasked with
Speaker 1: addressing tough issues such as climate change and guns, but recently,
Speaker 1: both Democrats and Republicans have been trying to pressure banks
Speaker 1: into doing the job of affecting social and environmental policy
Speaker 1: for them. For example, some Democrats of propos was breaking
Speaker 1: up banks that failed to cut their lending to fossil
Speaker 1: fuel companies. Meanwhile, Texas recently passed a law denying municipal
Speaker 1: bond deals to banks that officials deemed to be boycotting gunmakers.
Speaker 1: Other states are looking to punish lenders that they believe
Speaker 1: discriminate against oil and gas businesses in polarized times. It's
Speaker 1: a model that seems likely to spread and to backfire.
Speaker 1: Using banks as a political bludgeon will not further anyone's goals. Instead,
Speaker 1: lawmakers should be addressing the issues head on, that is,
Speaker 1: through legislation. This editorial was written by the Bloomberg Editorial Board.
Speaker 1: For more Bloomberg opinion, please go to Bloomberg dot com,
Speaker 1: slash opinion or ope I n go on the Bloomberg Terminal.
Speaker 1: These has been Bloomberg opinion. You can hear Bloomberg opinion
Speaker 1: editorials every weekday at this time. Terminal customers can read
Speaker 1: more at op I n go. Looking ahead to the market,
Speaker 1: open futures are moving low. We have SMP futures down
Speaker 1: down twenty eight point, staff futures down two twenty seven,
Speaker 1: NASTACK futures on the decline by eighty five points. The
Speaker 1: tenure treasury is up seventeen thirty seconds, the yield one
Speaker 1: point seven eight per cent. Straight ahead, we look ahead
Speaker 1: to February jobs. Mark Vitner, senior economist of Wells Fargo,
Speaker 1: joins us. Next. This is Bloomberg Bloomberg eleven three oh
Speaker 1: Weather mostly sunny upper thirties today, will turn cloudy tomorrow
Speaker 1: up for forties for a Saturday high scattered showers, breezy
Speaker 1: on Sunday with a hind your sixty five degrees right
Speaker 1: now one. That's it in Central Park markets, headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,
Speaker 1: The Bloomberg Business at and at Bloomberg Quicktake. He's a
Speaker 1: Bloomberg Business Flash and I'm Karen Moscow. And stocks are
Speaker 1: falling along with US stock index futures as war risks
Speaker 1: and tensify after a Ukrainian new clear power plant briefly
Speaker 1: caught fire. We checked the markets every fifteen minutes throughout
Speaker 1: the trading day. On Bloomberg s and P Future is
Speaker 1: down thirty two points down Future is down at two
Speaker 1: hundred sixty seven. Nastag Future is down ninety five. The
Speaker 1: decks in Germany's down at three point one percent. Ten
Speaker 1: year Treasury up eighteen thirty seconds, held one point seven
Speaker 1: seven percent. They yield on the two year one point
Speaker 1: for eight percent. NIMEX screwed oil is at one point
Speaker 1: nine percent, up two dollars at a hundred do dollars
Speaker 1: sixty seven cents a barrel. Comics called up seven ten
Speaker 1: percent or thirteen dollars forty cents at nineteen forty nine ounce,
Speaker 1: the euro one point one zero zero two against the
Speaker 1: dollar British found one point three three one four and
Speaker 1: the yunis at one fifteen point three a Checking bitcoin
Speaker 1: this morning, it is moving lower down about nine ten
Speaker 1: s percent at forty one thousand, seven hundred thirty dollars.
Speaker 1: And of course we're watching to the February jobs report
Speaker 1: today at at eight thirty walls straight time. That's a
Speaker 1: Bloomberg business flash. Now here's Michael bar with more on
Speaker 1: what's going on around the world. Michael Karen, thank you
Speaker 1: very much. More on that, Pliny are you mentioned. Russian
Speaker 1: forces occupy the side of Europe's largest nuclear power plant
Speaker 1: today after an attack that ignited a fire at the
Speaker 1: complex in Ukraine. Emergency services extinguished the fire and there
Speaker 1: were no casualties. Ukraine told the International Atomic Energy Agency
Speaker 1: the incident had not affected essential equipment and there had
Speaker 1: been no change reported in radiation levels. The Winter Paralympics
Speaker 1: are set to open in Beijing, with the Russian athletes
Speaker 1: sent home. Meanwhile, with the Ukrainian team escaping a war zone,
Speaker 1: they had of the delegation says it is a miracle.
Speaker 1: They got the China in the NBA, the Nets and
Speaker 1: Warriors lost the Celtics. One in the NHL, the Islanders
Speaker 1: lost the Bruins. And Capitol's one Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more than twenty seven hundred journalists and analysts and
Speaker 1: more than a hundred twenty countries. I'm Michael bar This
Speaker 1: is Bloomberg. Nathan Okay, Michael. Thanks. It's five forty nine
Speaker 1: on Wall Street Line from the Bloomberg Interactive Broker Studios.
Speaker 1: This is bloom Daybreak and Wells Fargo Senior economist Mark
Speaker 1: Vitner joins us now on a job's Friday that really
Speaker 1: feels overshadowed by the war in Ukraine. Mark, it's good
Speaker 1: to speak with you this morning, although it feels weird
Speaker 1: to be talking about expectations for what we're going to
Speaker 1: get from the labor department when there's so much turmoil overseas.
Speaker 1: But what are you looking for? Well, we've trimmed our
Speaker 1: our forecast back a little bit after we got that
Speaker 1: below really weak I SM Services number yesterday, so we're
Speaker 1: looking for it again. Three thousand jobs, and we're looking
Speaker 1: for a dropping the anempoyment rate to from four percent
Speaker 1: to three point nine percent, and you know, a fairly
Speaker 1: decent increase in average arry earnings, but it's probably going
Speaker 1: to come in a little shy of expectations because a
Speaker 1: larger proportion of the jobs that were going to add
Speaker 1: are going to be in lower paying industries or like
Speaker 1: leisure in hospitality. So it doesn't sound like you're thinking
Speaker 1: the wages are going to keep up with the inflation
Speaker 1: rate when we get the CPI later next week. No, no, no,
Speaker 1: that's uh, that is a that's that's the other big
Speaker 1: issue of the of the of this year has been
Speaker 1: the surge of inflation, and and not just the surge,
Speaker 1: but it's it's breadth where it's not just one or
Speaker 1: two items, it's everything in the CPI and UH, and
Speaker 1: what I think it's going to be the final surprises
Speaker 1: the persistence. I think that it's going to take quite
Speaker 1: some time for us to bring inflation back down. Do
Speaker 1: you think that we're close to maximum employment? I know.
Speaker 1: Federal Reserve Chairman Jerome Powell was asked that during his
Speaker 1: congressional testimony he seems to think that we could be
Speaker 1: pretty close. Are you thinking that we're about we're pretty
Speaker 1: tight this labor market. We're fairly close. But there's a
Speaker 1: large segment that that hasn't come back yet, and that's
Speaker 1: folks who are working downtown areas. And we're likely to
Speaker 1: see that over the next three or four months as
Speaker 1: people returned to the office and all that office adjacent
Speaker 1: employment at restaurants and bars and small businesses that depend
Speaker 1: on office workers as there is their primary customers, and
Speaker 1: we're going to see that come back, and we'll also
Speaker 1: see business travel come back. I think I think once
Speaker 1: of those industries return, we're going to see more people
Speaker 1: come back into the labor market as well. What do
Speaker 1: you think's been keeping people on the sidelines at this point, Well,
Speaker 1: I a lot of the folks that have been delucted
Speaker 1: to commit in the workforce, our women, and they've they've
Speaker 1: got children at home, and schools haven't been back in
Speaker 1: session on a consistent basis across the country. There's also
Speaker 1: been fears of contracting COVID and so folcus on. Many
Speaker 1: folks have been reluctant to put their children to daycare
Speaker 1: where they'd be around other kids and might bring the
Speaker 1: virus back home. So, um, I think that the fears
Speaker 1: of COVID have subsided for now and hopefully for for
Speaker 1: for for a very long time. Uh. And I think
Speaker 1: they we're going to see that the folks are going
Speaker 1: to feel a little bit more confident about re engaging
Speaker 1: the economy. And so I think that's that's been the
Speaker 1: biggest woradblocked to for the economy getting back to where
Speaker 1: it was previously. Do you think this read on the
Speaker 1: labor market's gonna matter for the Federal Reserve when there's
Speaker 1: so much focus now on the war in Ukraine and
Speaker 1: the uncertainty surrounding that. It'll it'll certainly matter when they
Speaker 1: when they dig through the details. I mean, it's another
Speaker 1: piece of the puzzle. Uh. They seem pretty clear that
Speaker 1: they're on a course right now to begin to remove
Speaker 1: policy accommodation. That was the wording that they used yesterday,
Speaker 1: that Paul used yesterday, And and I think that's that's
Speaker 1: very significant, that that we're going to remove policy accommodation.
Speaker 1: So they're probably going to raise rates four or five times.
Speaker 1: And I know a lot of folks have been saying, oh,
Speaker 1: they've got to raise rates seven times. I think the
Speaker 1: war in Ukraine takes that off the table, and I
Speaker 1: wouldn't be surprised if they raised rates three or four times.
Speaker 1: It really depends on how long oil prices stay up
Speaker 1: around a hundred ten are a hundred twenty dollars of barrel,
Speaker 1: because that's going to depress demand in the US and
Speaker 1: around the world, and it's going to do a lot
Speaker 1: of the work that rising interest rates would have done.
Speaker 1: Just about thirty seconds left here, Mark, do you see
Speaker 1: a recession risk for the US given all the geopolitical turmoil,
Speaker 1: I still see that risk is being fairly slight. Um.
Speaker 1: There's when you look at the economy. Household balance sheets
Speaker 1: are just incredibly strong. Corporate balance heats are very strong,
Speaker 1: State and local government balance sheets are very strong. Um.
Speaker 1: And the only balance sheet that's not strong is the
Speaker 1: federal government. But but they in some ways have unlimited resources.
Speaker 1: So you know, I M I don't think that the
Speaker 1: recession is in the cards this year and probably that
Speaker 1: next year. The other things that inventories throughout the economy
Speaker 1: are so low right now that production needs to run
Speaker 1: ahead of consumption that we need to rebuild inventories. So
Speaker 1: so I think that that we've got a little bit
Speaker 1: of the wind that are back, even with all the
Speaker 1: uncertainty around the world. Fingers crossed. That holds up. Thanks Mark,
Speaker 1: good having you on with us. Mark Vitn, your senior
Speaker 1: economist at Wells Fargo, Karen Nathan. It is five fifty
Speaker 1: four on Wall Street. Time for the Bloomberg Law Report,
Speaker 1: brought to you by American Arbitration Association. Business disputes are inevitable.
Speaker 1: There'solve faster with the American Arbitration Association, the global leader
Speaker 1: and alternative dispute resolution for over ninety years. More at
Speaker 1: a dr dot org. Among the stories we're watching this morning,
Speaker 1: a judge is temporarily blocked Texas Child Welfare agency from
Speaker 1: investigating the parents of a transgender teenager over gender confirmation treatments,
Speaker 1: but stop short of preventing this day from looking into
Speaker 1: other reports about children receiving similar care. The parents are
Speaker 1: the first to be investigated under Governor Greg Abbott's order
Speaker 1: that the agency investigate parents who are suspected of providing
Speaker 1: gender of affirmative treatments for child abuse. For more, Bloomberg's
Speaker 1: Judent Grosso spaces to Anthony cris A professor at the
Speaker 1: Georgia State University College of Law. So a state court
Speaker 1: in often intervened and issued a temporary restraining order. Briefly,
Speaker 1: what was the basis of the judge issuing that order.
Speaker 1: Judge basically said that the investigation and the potential ramifications
Speaker 1: of such a prosecution for the parents, namely they could
Speaker 1: be on a child abuse list and the clatter consequences
Speaker 1: that can come from that, all way in favor of
Speaker 1: returning to the status quo that existed before the Texas
Speaker 1: turn General and the Texas Governor began their issuing of
Speaker 1: opinions and directives to investigate and prosecute these parents for
Speaker 1: providing gender affirming care. And so essentially, the judge saw
Speaker 1: that the risks to the parents here by far outweigh
Speaker 1: whatever interests the state had, and of course the interests
Speaker 1: of the children here is outweighed by whatever immediate action
Speaker 1: the State of Texas wanted to take. And so there
Speaker 1: will be a fuller hearing and I think the court
Speaker 1: will then address more of the merits of the claims
Speaker 1: that have been brought by these anonymous parents. You mentioned
Speaker 1: that both the governor and the Attorney General faced challengers
Speaker 1: in Tuesday's primary, and in a call with reporters on Wednesday,
Speaker 1: the top strategist for the governor's reelection campaign said that
Speaker 1: being against medical treatment for transgender children and treating it
Speaker 1: as child abuse was a winning issue for the governor.
Speaker 1: Why are the rights of transgender kids being treated as
Speaker 1: sort of a battle ground for certain conservative groups. That's
Speaker 1: a great question. Certainly. I think that the Texas Department
Speaker 1: of Family and Productive Services here is being used in
Speaker 1: a way to turn its mission on its head and
Speaker 1: abuse children who are some of the most vulnerable children
Speaker 1: in American society. So that is just a sad display
Speaker 1: on its own. And the fact that there's smoking gun
Speaker 1: evidence here that political operatives see this as an opportunity
Speaker 1: that they need to grab onto is quite telling. The
Speaker 1: truth of the matter is that transfolks have been the
Speaker 1: kind of subject of political operatives, or should say, they've
Speaker 1: been in their sights for quite some time now. Um,
Speaker 1: we can go back to North Carolina just a few
Speaker 1: years ago when they passed HB two, which is the
Speaker 1: bill restricting back from access and keeping trans folks kind
Speaker 1: of relegated to second class status. So using trans people
Speaker 1: generally certainly is not a new phenomenon. The focus on
Speaker 1: children does seem to be. And that's Anthony Cras, a
Speaker 1: professor at the Georgia State University College of Lass begain
Speaker 1: the Bloomberg Student Grosso. Catch more of that interview, plus
Speaker 1: analysis of the latest legal news by listening to the
Speaker 1: Bloomberg Law Show at ten pm Eastern Time or subscribing
Speaker 1: to the Bloomberg Law Podcast. And attorneys can find exceptional
Speaker 1: legal research and business development tools at Bloomberg law dot com,
Speaker 1: and our top stories are straight ahead as Bloomberg Gaybery continues.